Terms of Use

Version 3.4 - February 21, 2023

FITCH RATINGS & FITCH GROUP TERMS OF USE

Related Policies:

Fitch Group, Inc. Privacy Policy (“Privacy Policy”) https://www.fitch.group/privacy-policy

Fitch Group, Inc. Cookie Policy (“Cookie Policy”) https://www.fitch.group/cookie-policy

I. Fitch Ratings main website: www.fitchratings.com; Fitch Group main website: www.fitch.group

The use of this website and all mobile applications (each a "Site" and together the "Sites") maintained by Fitch Ratings, Inc. and its affiliates is subject to the terms and conditions set forth below. As a result, use of such Sites constitutes the agreement by the user (“You” or “User”) to abide by the following terms and conditions:

The information provided by Fitch Ratings, Inc. and its affiliates (together, “we”, “us”, “our” or “Fitch”) on these Sites is owned by or licensed to Fitch (the "Fitch Information").

NONE OF THE FITCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT FITCH'S PRIOR WRITTEN CONSENT. NOTWITHSTANDING THE FOREGOING, FITCH ACKNOWLEDGES THAT CERTAIN USERS MAY DISTRIBUTE PORTIONS OF THE FITCH INFORMATION TO THEIR REGULATORS FOR REGULATORY COMPLIANCE PURPOSES.

In issuing and maintaining its ratings, Fitch relies on factual information it receives from issuers and underwriters and from other sources Fitch believes to be credible. Fitch conducts a reasonable investigation of the factual information relied upon by it in accordance with its ratings methodology, and obtains reasonable verification of that information from independent sources, to the extent such sources are available for a given security or in a given jurisdiction.

The manner of Fitch's factual investigation and the scope of the third-party verification it obtains will vary depending on the nature of the rated security and its issuer, the requirements and practices in the jurisdiction in which the rated security is offered and sold and/or the issuer is located, the availability and nature of relevant public information, access to the management of the issuer and its advisers, the availability of pre-existing third-party verifications such as audit reports, agreed-upon procedures letters, appraisals, actuarial reports, engineering reports, legal opinions and other reports provided by third parties, the availability of independent and competent third-party verification sources with respect to the particular security or in the particular jurisdiction of the issuer, and a variety of other factors.

Users of Fitch's ratings should understand that neither an enhanced factual investigation nor any third-party verification can ensure that all of the information Fitch relies on in connection with a rating will be accurate and complete. Ultimately, the issuer and its advisers are responsible for the accuracy of the information they provide to Fitch and to the market in offering documents and other reports. In issuing its ratings Fitch must rely on the work of experts, including independent auditors with respect to financial statements and attorneys with respect to legal and tax matters. Further, ratings are inherently forward-looking and embody assumptions and predictions about future events that by their nature cannot be verified as facts. As a result, despite any verification of current facts, ratings can be affected by future events or conditions that were not anticipated at the time a rating was issued or affirmed.

Fitch seeks to continuously improve its ratings criteria and methodologies, and periodically updates the descriptions of its criteria and methodologies for securities of a given type on the Sites. The criteria and methodology used to determine a rating action are those in effect at the time the rating action is taken, which is the date of the related rating action commentary. Each rating action commentary provides information about the criteria and methodology used to arrive at the stated rating, which may differ from the general criteria and methodology for the applicable security type posted on this site at a given time. For this reason, you should always consult the applicable rating action commentary for the most accurate information on the basis of any given rating.

CUSIP Database Representations. (a) You agree and acknowledge that the CUSIP Database is and shall remain valuable intellectual property owned by, or licensed to, Standard & Poor's CUSIP Service Bureau ("CSB") and the American Bankers Association ("ABA"), and that no proprietary rights are being transferred to you in such materials or in any of the information contained therein. You agree that misappropriation or misuse of such materials will cause serious damage to CSB and ABA and that in such event money damages may not constitute sufficient compensation to CSB and ABA; consequently, you agree that in the event of any misappropriation or misuse, CSB and ABA shall have the right to obtain injunctive relief. (b) You agree that you shall not publish or distribute in any medium the CUSIP Database or any information contained therein or summaries or subsets thereof to any person or entity except in connection with the normal internal processing of security transactions. You further agree that the use of CUSIP numbers and descriptions is not intended to create or maintain, and does not serve the purpose of the creation or maintenance of, a file of CUSIP descriptions or numbers for any other third party recipient of such service and is not intended to create and does not serve in any way as a substitute for the CUSIP MASTER TAPE, PRINT, ELECTRONIC and/or CD-ROM SERVICES. (c) NEITHER CSB, ABA NOR ANY OF THEIR AFFILIATES MAKE ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF ANY OF THE INFORMATION CONTAINED IN THE CUSIP DATABASE. ALL SUCH MATERIALS ARE PROVIDED TO YOU ON AN "AS IS" BASIS, WITHOUT ANY WARRANTIES AS TO MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE NOR WITH RESPECT TO THE RESULTS WHICH MAY BE OBTAINED FROM THE USE OF SUCH MATERIALS. NEITHER CSB, ABA NOR THEIR AFFILIATES SHALL HAVE ANY RESPONSIBILITY OR LIABILITY FOR ANY ERRORS OR OMISSIONS NOR SHALL THEY BE LIABLE FOR ANY DAMAGES, WHETHER DIRECT OR INDIRECT, SPECIAL OR CONSEQUENTIAL EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE LIABILITY OF CSB, ABA OR ANY OF THEIR AFFILIATES PURSUANT TO ANY CAUSE OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE EXCEED THE FEE PAID BY YOU FOR ACCESS TO SUCH MATERIALS IN THE MONTH IN WHICH SUCH CAUSE OF ACTION IS ALLEGED TO HAVE ARISEN. FURTHERMORE, CSB AND ABA SHALL HAVE NO RESPONSIBILITY OR LIABILITY FOR DELAYS OR FAILURES DUE TO CIRCUMSTANCES BEYOND ITS CONTROL. (d) You agree that the foregoing terms and conditions shall survive any termination of its right of access to the materials identified above.

THE INFORMATION PROVIDED ON EACH SITE IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND AND FITCH MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH INFORMATION. Under no circumstances shall Fitch. have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or relating to, any error or other circumstance or contingency within or outside the control of Fitch or any of its directors, officers, employees or agents in connection with the procurement, collection, compilation, analysis, interpretation, editing, transcription, transmission, communication, publication or delivery of any such information, or (b) any direct, indirect, special, consequential, compensatory, or incidental damages whatsoever, or (c) lost profits with respect to any of the foregoing.

Each user of a Site acknowledges that a Fitch rating is an opinion as to the creditworthiness of a security. This opinion is based on established criteria and methodologies that Fitch is continuously evaluating and updating. Therefore, ratings are the collective work product of Fitch and no individual, or group of individuals, is solely responsible for a rating. The rating does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. Fitch is not engaged in the offer or sale of any security. All Fitch reports have shared authorship. Individuals identified in a Fitch report were involved in, but are not solely responsible for, the opinions stated therein. The individuals are named for contact purposes only. A report providing a Fitch rating is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities. Ratings may be changed or withdrawn at any time for any reason in the sole discretion of Fitch. Fitch does not provide investment advice of any sort. Fitch is not responsible for any underwriting, credit, loan, purchase, strategic or investment decision. In issuing and/or maintaining a rating, Fitch is not making any recommendation or suggestion, directly or indirectly to you, or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security of any issuer. Ratings do not comment on the adequacy of market price, the suitability of any investment, loan or security for a particular investor (including, without limitation, any accounting and/or regulatory treatment), or the tax-exempt nature or taxability of payments made in respect to any investment, loan or security. ANY PERSON OR ENTITY WHO USES A RATING DOES SO ENTIRELY AT HIS, HER OR ITS OWN RISK. SHOULD ANY SUCH PERSON OR ENTITY BE ENTITLED TO RECOVER DAMAGES FROM FITCH UNDER ANY LEGAL THEORY, SUCH PERSON OR ENTITY AGREES, TO THE EXTENT PERMITTED BY LAW, THAT THE TOTAL LIABILITY OF FITCH IN CONNECTION WITH SUCH RATING IS LIMITED TO ACTUAL DIRECT DAMAGES THAT CAN BE PROVEN UP TO AN AMOUNT NOT TO EXCEED THREE TIMES THE NET FEES RECEIVED BY FITCH WITH RESPECT TO SUCH RATING. Fitch receives fees from issuers, insurers, guarantors, other obligors, and underwriters for rating securities. Such fees generally vary from US$1,000 to US$750,000 (or the applicable currency equivalent) per issue. In certain cases, Fitch will rate all or a number of issues issued by a particular issuer, or insured or guaranteed by a particular insurer or guarantor, for a single annual fee. Such fees are expected to vary from US$10,000 to US$1,500,000 (or the applicable currency equivalent). The assignment, publication, or dissemination of a rating by Fitch shall not constitute consent by Fitch to use its name as an expert in connection with any registration statement filed under the United States securities laws, the Financial Services and Markets Act of 2000 of the United Kingdom, or the securities laws of any particular jurisdiction. Due to the relative efficiency of electronic publishing and distribution, Fitch research may be available to electronic subscribers up to three days earlier than to print subscribers. Users may, through hypertext or other computer links, gain access to third party sites on the World Wide Web which contain information that is not part of the Fitch Information or users of third party sites may, through hypertext or other computer links, gain access to this Fitch Site. The appearance of a Fitch hyperlink on a third party site does not mean that Fitch consented to such hyperlink. Users and third parties are prohibited from establishing hyperlinks to or away from this Site, unless Fitch provides prior written consent (which it may or may not provide in its sole discretion). The user agrees that regardless of whether a hyperlink to or from a third party website exists, Fitch is not responsible for the content of any third party websites either those third party sites accessed from a Site or those third party sites used to access this Site and Fitch shall have no liability to any person or entity therefore. Moreover, the user agrees (a) to hold Fitch harmless for the use of third party software on a Fitch Site and (b) that Fitch shall have no liability whatsoever to any person or entity for the accuracy and/or completeness of any outcome resulting from the use of such software.

These Terms of Use are governed by the laws of the State of New York, USA, exclusive of its choice of law principles. Any controversy, claim or dispute arising out of or relating to these Terms of Use shall be settled solely and exclusively by individual binding arbitration in New York City, New York.  Such arbitration shall be conducted in accordance with the then prevailing commercial arbitration rules of the American Arbitration Association.  Each party shall bear its own attorney’s fees and expenses.  The parties agree to abide by all decisions and awards rendered in such proceedings.  Such decisions and awards rendered by the arbitrator shall be final and conclusive.  All such controversies, claims, or disputes shall be settled in this manner in lieu of any action at law or equity.  The arbitrator shall not have the right to award punitive damages or speculative damages to either party and shall not have the power to amend the terms of these Terms of Use.  The arbitrator shall be required to follow applicable law.  You agree that this arbitration clause shall be binding upon your family members, heirs, executors, administrators, successors, and assigns.

IF FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES NOT APPLICABLE, THEN EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THESE TERMS OR ANY OTHER MATTER INVOLVING THE PARTIES HERETO.  You and Fitch (a) agree that any suit, action or legal proceeding arising out of or relating to these Terms of Use shall be brought in the federal and state courts of record located in the State of New York, County of New York; (b) consent to the jurisdiction of each such court in any suit, action or proceeding; (c) waive any objection to the laying of venue of any such suit, action or proceeding in any of such courts; and (d) agree that these Terms of Use are performed in the State of New York and shall be governed by the laws of New York. You and Fitch both agree that no lawsuit dispute or any other legal proceeding  connected with these Terms of Use shall be brought or filed more than six months after the incident giving rise to the claim occurred.  PROCEEDINGS TO RESOLVE OR LITIGATE A DISPUTE IN ANY FORUM WILL BE CONDUCTED ON AN INDIVIDUAL BASIS.  Neither you nor Fitch will seek to have a dispute heard as a class action, private attorney general action, or in any other proceeding in which either party acts or proposes to act in a representative capacity.  No arbitration or proceeding can be combined with another without the prior written consent of all parties to the arbitration or proceeding.  SOME JURISDICTIONS LIMIT OR PROHIBIT THE FOREGOING LIMITATIONS, AND IN SUCH JURISDICTIONS THE FOREGOING LIMITATIONS SHALL BE APPLIED TO THE MAXIMUM EXTENT PERMITTED BY LAW.

We will update these Terms of Use from time to time to reflect changes in our business practices or applicable laws. In accordance with applicable law, we may make such changes without prior notice. We will publish the updated version of these Terms of Use and indicate at the top of the Terms of Use when they were most recently updated. Your use of the Terms of Use will be governed by the then-current version of the Terms of Use.

If there is any conflict between these Terms of Use and a specific contract between you and Fitch, then the terms of the specific contract shall prevail over the Terms of Use. To review a copy of the Fitch Privacy Policy, please see Privacy Policy.

FITCH SOLUTIONS TERMS OF USE

Related Policies:

Fitch Group, Inc. Privacy Policy (“Privacy Policy”) located at https://www.fitch.group/privacy-policy

Fitch Group, Inc. Cookie Policy (“Cookie Policy”) located at https://www.fitch.group/cookie-policy

I. Fitch Solutions main websites: www.fitchsolutions.com www.sustainablefitch.com [CreditSights] [LevFinInsights]

The use of this website and all mobile applications (each a "Site" and together the "Sites") maintained by Fitch Solutions, Inc. or any Affiliate thereof (independently and together “Fitch”) is subject to both (i) the terms and conditions of any specific agreement between Fitch and the user and (ii) the terms and conditions set forth below. In the event of a conflict between the terms of an agreement with the user and these terms of use, the terms and conditions of such agreement shall control.

These Terms of Use (“Terms of Use”) contain the terms, covenants, conditions, and provisions upon which you (also referred to herein as “User” or “your”) may access and use this Site and the content, including (without limitation) the information (including, but not limited to: credit ratings, ESG ratings, ESG scores, research, models, indices, financial commentary, information data and other news and views) provided by Fitch on these Sites which is owned by or licensed to Fitch (the "Fitch Information"). Use of the Sites constitutes the user's agreement to abide by the following terms and conditions:

EXCEPT AS OTHERWISE PROVIDED PURSUANT TO AN AGREEMENT, NONE OF THE FITCH INFORMATION MAY BE COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEMINATED, REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, IN WHOLE OR IN PART, IN ANY FORM OR MANNER OR BY ANY MEANS WHATSOEVER, BY ANY PERSON WITHOUT FITCH'S PRIOR WRITTEN CONSENT.

In issuing and maintaining its ratings and other Fitch Information, Fitch relies on factual information it receives from issuers and underwriters and from other sources Fitch believes to be credible. Fitch conducts a reasonable investigation of the factual information relied upon by it in accordance with its ratings methodology, and other applicable criteria and methodology and obtains reasonable verification of that information from independent sources, to the extent such sources are available for a given security, data-point or in a given jurisdiction.

The manner of Fitch's factual investigation and the scope of the third-party verification it obtains will vary depending on the nature of the rated security and its issuer, the requirements and practices in the jurisdiction in which the rated security is offered and sold and/or the issuer is located, the availability and nature of relevant public information, access to the management of the issuer and its advisers, the availability of pre-existing third-party verifications such as audit reports, agreed-upon procedures letters, appraisals, actuarial reports, engineering reports, legal opinions and other reports provided by third parties, the availability of independent and competent third-party verification sources with respect to the particular security or in the particular jurisdiction of the issuer, and a variety of other factors.

Users of Fitch's ratings should understand that neither an enhanced factual investigation nor any third-party verification can ensure that all of the information Fitch relies on in connection with a rating will be accurate and complete. Ultimately, the issuer and its advisers are responsible for the accuracy of the information they provide to Fitch and to the market in offering documents and other reports. In issuing its ratings Fitch must rely on the work of experts, including independent auditors with respect to financial statements and attorneys with respect to legal and tax matters. Further, ratings are inherently forward-looking and embody assumptions and predictions about future events that by their nature cannot be verified as facts. As a result, despite any verification of current facts, ratings can be affected by future events or conditions that were not anticipated at the time a rating was issued or affirmed.

Fitch seeks to continuously improve its ratings criteria and methodologies, and periodically updates the descriptions of its criteria and methodologies for securities of a given type on the Sites. The criteria and methodology used to determine a rating action are those in effect at the time the rating action is taken, which is the date of the related rating action commentary. Each rating action commentary provides information about the criteria and methodology used to arrive at the stated rating, which may differ from the general criteria and methodology for the applicable security type posted on this site at a given time. For this reason, you should always consult the applicable rating action commentary for the most accurate information on the basis of any given rating.

CUSIP Database Representations. (a) You agree and acknowledge that the CUSIP Database is and shall remain valuable intellectual property owned by, or licensed to, Standard & Poor's CUSIP Service Bureau ("CSB") and the American Bankers Association ("ABA"), and that no proprietary rights are being transferred to you in such materials or in any of the information contained therein. You agree that misappropriation or misuse of such materials will cause serious damage to CSB and ABA and that in such event money damages may not constitute sufficient compensation to CSB and ABA; consequently, you agree that in the event of any misappropriation or misuse, CSB and ABA shall have the right to obtain injunctive relief. (b) You agree that you shall not publish or distribute in any medium the CUSIP Database or any information contained therein or summaries or subsets thereof to any person or entity except in connection with the normal internal processing of security transactions. You further agree that the use of CUSIP numbers and descriptions is not intended to create or maintain, and does not serve the purpose of the creation or maintenance of, a file of CUSIP descriptions or numbers for any other third party recipient of such service and is not intended to create and does not serve in any way as a substitute for the CUSIP MASTER TAPE, PRINT, ELECTRONIC and/or CD-ROM SERVICES. (c) NEITHER CSB, ABA NOR ANY OF THEIR AFFILIATES MAKE ANY WARRANTIES, EXPRESS OR IMPLIED, AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF ANY OF THE INFORMATION CONTAINED IN THE CUSIP DATABASE. ALL SUCH MATERIALS ARE PROVIDED TO YOU ON AN "AS IS" BASIS, WITHOUT ANY WARRANTIES AS TO MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE NOR WITH RESPECT TO THE RESULTS WHICH MAY BE OBTAINED FROM THE USE OF SUCH MATERIALS. NEITHER CSB, ABA NOR THEIR AFFILIATES SHALL HAVE ANY RESPONSIBILITY OR LIABILITY FOR ANY ERRORS OR OMISSIONS NOR SHALL THEY BE LIABLE FOR ANY DAMAGES, WHETHER DIRECT OR INDIRECT, SPECIAL OR CONSEQUENTIAL EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL THE LIABILITY OF CSB, ABA OR ANY OF THEIR AFFILIATES PURSUANT TO ANY CAUSE OF ACTION, WHETHER IN CONTRACT, TORT, OR OTHERWISE EXCEED THE FEE PAID BY YOU FOR ACCESS TO SUCH MATERIALS IN THE MONTH IN WHICH SUCH CAUSE OF ACTION IS ALLEGED TO HAVE ARISEN. FURTHERMORE, CSB AND ABA SHALL HAVE NO RESPONSIBILITY OR LIABILITY FOR DELAYS OR FAILURES DUE TO CIRCUMSTANCES BEYOND ITS CONTROL. (d) You agree that the foregoing terms and conditions shall survive any termination of its right of access to the materials identified above.

EXCEPT AS OTHERWISE PROVIDED PURSUANT TO AN AGREEMENT, THE INFORMATION PROVIDED ON EACH SITE IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND AND FITCH MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY SUCH INFORMATION. MATERIAL PUBLISHED BY FITCH IS INTENDED FOR GENERAL INFORMATION ONLY AND MUST NOT BE CONSTRUED AS ADVICE (INCLUDING UNDER RELEVANT INVESTMENT REGULATION APPLICABLE TO THE USER, FOR EXAMPLE (BUT WITHOUT LIMITATION), IN THE UNITED KINGDOM, AS DEFINED BY THE FINANCIAL SERVICES AND MARKETS ACT 2000). FITCH HEREBY DISCLAIMS ALL DUTIES OR WARRANTIES PERTAINING TO FITNESS FOR A PARTICULAR PURPOSE AND ITS SITE CONTENT IS NOT INTENDED TO BE RELIED UPON BY USERS IN RELATION TO ANY INVESTMENT DECISIONS WHATSOEVER. APPROPRIATE INDEPENDENT ADVICE SHOULD BE SOUGHT BEFORE TAKING ANY SUCH DECISION.

Users of a Site acknowledge that a Fitch credit rating is an opinion as to the creditworthiness of a security and a Fitch ESG rating is an assessment of the Environmental, Social and Governance (“E”, “S” and “G”) qualities of financial instruments and/or entities. These opinions are based on established criteria and methodologies that Fitch is continuously evaluating and updating. Therefore, ratings are the collective work product of Fitch and no individual, or group of individuals, is solely responsible for a rating. The Fitch credit rating does not address the risk of loss due to risks other than credit risk, unless such risk is specifically mentioned. Fitch is not engaged in the offer or sale of any security. All Fitch reports have shared authorship. Individuals identified in a Fitch report were involved in, but are not solely responsible for, the opinions stated therein. The individuals are named for contact purposes only. A report providing a Fitch credit rating is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of the securities. Fitch Information may be changed or withdrawn at any time for any reason in the sole discretion of Fitch. Fitch does not provide investment advice of any sort. Fitch is not responsible for any underwriting, credit, loan, purchase, strategic or investment decision. In issuing and/or maintaining a rating, Fitch is not making any recommendation or suggestion, directly or indirectly to you, or any other person, to buy, sell, make or hold any investment, loan or security or to undertake any investment strategy with respect to any investment, loan or security of any issuer. Fitch Information does not comment on the adequacy of market price, the suitability of any investment, loan or security for a particular investor (including, without limitation, any accounting and/or regulatory treatment), or the tax-exempt nature or taxability of payments made in respect to any investment, loan or security. ANY PERSON OR ENTITY WHO USES FITCH INFORMATION DOES SO ENTIRELY AT HIS, HER OR ITS OWN RISK. SHOULD ANY SUCH PERSON OR ENTITY BE ENTITLED TO RECOVER DAMAGES FROM FITCH UNDER ANY LEGAL THEORY, SUCH PERSON OR ENTITY AGREES, TO THE EXTENT PERMITTED BY LAW, THAT THE TOTAL LIABILITY OF FITCH IN CONNECTION WITH SUCH FITCH INFORMATION IS LIMITED TO ACTUAL DIRECT DAMAGES THAT CAN BE PROVEN UP TO AN AMOUNT NOT TO EXCEED THREE TIMES THE NET FEES RECEIVED BY FITCH WITH RESPECT TO SUCH FITCH INFORMATION. Fitch receives fees from issuers, insurers, guarantors, other obligors, and underwriters for rating securities. Such fees generally vary from US$1,000 to US$750,000 (or the applicable currency equivalent) per issue. In certain cases, Fitch will rate all or a number of issues issued by a particular issuer, or insured or guaranteed by a particular insurer or guarantor, for a single annual fee. Such fees are expected to vary from US$10,000 to US$1,500,000 (or the applicable currency equivalent). The assignment, publication, or dissemination of Fitch Information shall not constitute consent by Fitch to use its name as an expert in connection with any registration statement filed under the United States securities laws, the Financial Services and Markets Act of 2000 of the United Kingdom, or the securities laws of any particular jurisdiction. Due to the relative efficiency of electronic publishing and distribution, Fitch research may be available to electronic subscribers up to three days earlier than to print subscribers. Users may, through hypertext or other computer links, gain access to third party sites on the World Wide Web which contain information that is not part of the Fitch. Information or users of third party sites may, through hypertext or other computer links, gain access to this Site. The appearance of a Fitch hyperlink on a third party site does not mean that Fitch consented to such hyperlink. Users and third parties are prohibited from establishing hyperlinks to or away from this Site, unless Fitch provides prior written consent (which it may or may not provide in its sole discretion). The user agrees that regardless of whether a hyperlink to or from a third party website exists, Fitch is not responsible for the content of any third party websites either those third party sites accessed from a Site or those third party sites used to access this Site and Fitch shall have no liability to any person or entity therefore. Moreover, the user agrees (a) to hold Fitch harmless for the use of third party software on a Site and (b) that Fitch shall have no liability whatsoever to any person or entity for the accuracy and/or completeness of any outcome resulting from the use of such software.

TERMS AND CONDITIONS

1. Ownership; Restrictions on Use. (a) Fitch Information and any Site (including but not limited to the collection and presentation of the information contained in any Database) is owned by or licensed to Fitch, and contains the valuable copyrighted and proprietary material of Fitch or licensors, and all rights in or to Fitch Information not granted to you are expressly reserved by Fitch and licensors. You acknowledge, as such that all Intellectual Site Rights in Fitch Information or any Site belongs to and shall remain owned by Fitch or its licensors and you shall have no rights in or to Fitch Information other than granted under the terms of these Terms of Use. The software which operates every Site is proprietary software and you are not permitted to use it except as expressly allowed under the terms of these Terms of Use. (b) Except as specifically allowed under these Terms of Use, neither you nor any of your users may: (i) publish, copy, modify, merge, transfer or distribute Fitch Information or have access to any Site; (ii) reverse-engineer, decompile, translate, disassemble or separate the components of Fitch Information or of any Site; (iii) sublicense, rent, sell, lease or otherwise repackage or redistribute Fitch Information, or access to any Site or any part thereof; or (iv) use Fitch Information or any Site or any part thereof for third-party training, commercial time-sharing or in the operation of a service bureau. (c) To the extent that the Subscription/License permits you to access Fitch Information from a Site, you may make copies and store/print single pages from such Site for your internal business use only. You may also copy Fitch Information for archival and backup purposes, provided that all titles, trademarks and copyright notices and disclaimers and restricted rights notices are accurately reproduced on all archival or backup copies (including on any storage media containing Fitch Information if Fitch Information is archived or backed up on physical media) and that all such copies are destroyed upon termination of these Terms of Use. Notwithstanding the foregoing, you may, as part of and in the ordinary course of its business, redistribute (orally, in writing or by electronic means) to its customers and in its own business applications, reports, presentations, graphs and other publications (“Materials”) that include limited excerpts of the Fitch Information without Fitch’s prior written consent provided that: (i) such excerpts are only supportive and incidental to the substance of the Materials; (ii) you shall be liable for any such redistribution of the Fitch Information; (iii) you agree not to use the limited right to redistribute the Materials granted hereunder either (a) on a recurrent basis, (b) to develop for sale and/or distribution or otherwise a product or service that competes with any product or service of Fitch, or (c) in connection with a prospectus or other offering document or document required to be filed pursuant to the securities laws of any jurisdiction and (iv) you redistribute the Materials in compliance with all applicable laws, including anti-bribery, anti-corruption and US and UK economic sanctions regimes. In the event that you make use of such Materials as permitted above, it shall always in the Materials acknowledge Fitch as the source of the excerpts with an appropriate notice. You shall allow Fitch to view copies of the Materials or to have access to the Materials on your website (if applicable) for the sole purpose of confirming that you are using and distributing the Materials in accordance with the terms of these Terms of Use. In instances where actual ratings or other datapoints are being shown as part of the Materials, there can be no more than fifty (50) ratings or other datapoints presented in any particular business application, report, presentation, graph or other publication. For the avoidance of doubt, “limited excerpts” of the Fitch Information (a) have no independent commercial value, (b) may not be used by the recipient as a substitute for the Database, (c) are not regularly or systematically updated and (d) are not separately marketed.

2. Limited Warranty; Disclaimer. (a) In respect of any Fitch Information provided directly to you by Fitch (and not by a third party from whom you are entitled to receive the Fitch Information (or part thereof) under these Terms of Use or any applicable Fitch order schedule (a “Third Party FSI Supplier”)), under normal use during the subscription term: (i) each applicable Site will be generally accessible and perform substantially according to the written documentation included with Fitch Information or posted on such web site, provided that no unauthorized party has altered any portion of Fitch Information or web site, Fitch Information is properly accessed and used on the proper computer as identified in the applicable documentation and any non-conformities in Fitch Information or any such web site are not caused by other products or services or telecommunication problems; and (ii) if applicable, the CD-ROM or other media on which Fitch Information is contained shall be free from defects in materials and workmanship under normal use, or Fitch will use reasonable efforts to correct such defect or replace such defective media. In addition, Fitch will provide reasonable telephone and e-mail defect and installation support, in accordance with Fitch’s support policy in effect at the time of request. Fitch’s entire liability and your exclusive remedy, for any breach of warranty under these Terms of Use (if all Fitch Information is affected) or the relevant Fitch order schedule shall be, at Fitch’s sole election, the replacement of any defective material for supplying the relevant Fitch Information or, if all Fitch Information is affected, the termination of these Terms of Use, or the termination of the relevant Fitch order schedule, with a prorated refund of the Subscription Fees associated with the defective material for supplying Fitch Information or undelivered updates or upgrades to which you would otherwise have been entitled. (b) Although the Fitch Information as provided to you or accessible on a Site is based upon information obtained from sources Fitch believes in good faith to be reliable, you acknowledge that neither Fitch or its or their respective licensors represents, warrants or guarantees the accuracy, correctness, integrity, completeness or timeliness of any part of the Fitch Information and expressly acknowledges Fitch’s disclaimer that Fitch does not audit or verify the accuracy of the information provided to it by any third party, including without limitation issuers, their representatives, accountants and legal advisors and others. Neither Fitch or its respective licensors represents, warrants or guarantees (i) the design or performance of any part of the Fitch Information or any Site, or (ii) that the Fitch Information or any Site will fulfill any of your particular purposes or needs. Neither Fitch nor its licensors recommends the purchase or sale of financial products or securities nor gives investment advice or provides any legal, auditing, accounting, appraisal, valuation or actuarial services. A credit rating is not an opinion as to the value of securities. Credit opinions, like credit ratings, use a published rating scale, but either omit certain analytical characteristics of a credit rating, or match them to a lower standard than in a credit rating. The procedures for issuing a credit rating differ from the procedures used to issue a credit opinion and credit opinions may not be published in certain jurisdictions. There can be no assurance that an actual credit rating would be the same as the credit opinion or that the credit opinion will not materially change over time. Some products included in the Fitch Information may include mathematically or non-mathematically derived theoretical approximations of value for certain securities. Neither Fitch nor its licensors makes any representation or warranty that such evaluations are error-free, that input data supplied to or by any such entity for use in its evaluations or the software or methodologies used by any such entity are complete or free from errors, omissions, or defects, or that approximations of value generated by its models and evaluation methodologies necessarily correspond to the actual traded price which could be obtained on any given day for any particular security. You assume all responsibility for verification of and appropriateness of the use of evaluations. Some products included in the Fitch Information may include opinions relating to the liquidity or other attributes of financial products or securities. Neither Fitch nor its licensors makes any representation or warranty as to the accuracy, correctness, integrity, completeness or timeliness of any such opinion. Neither Fitch nor its licensors is responsible for any credit, loan or investment decisions, damages or other losses resulting from the reliance upon or use of the Fitch Information except to the extent set forth in Section 3 below. Neither Fitch nor its licensors shall be responsible for any discrepancies that may exist between any Database from Fitch Information sent to you and corresponding data contained in Fitch’s database after the time such Database was sent to you. Fitch shall not be responsible for any discrepancies that may exist between any Fitch Information sent to you by any Third Party FSI Supplier and corresponding data contained in Fitch’s database. THE FITCH INFORMATION AND ACCESS TO AND USE OF ANY SITE, IF APPLICABLE, IS PROVIDED “AS IS” AND ALL FAULTS AND THE ENTIRE RISK AS TO SATISFACTORY QUALITY, PERFORMANCE, ACCURACY AND EFFORT IS WITH YOU. FITCH AND ITS LICENSORS DISCLAIM ALL OTHER WARRANTIES OR CONDITIONS, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND ABSENCE OF VIRUSES AND DAMAGING OR DISABLING CODE. FITCH AND ITS LICENSORS SPECIFICALLY DISCLAIM ANY WARRANTY OR REPRESENTATION THAT FITCH INFORMATION OR ANY SITE WILL MEET SUBSCRIBER’S REQUIREMENTS, THAT THE OPERATION OR USE OF FITCH INFORMATION AND/OR ANY FITCH SOLUTIONS WEB SITE WILL BE UNINTERRUPTED OR ERROR-FREE, THAT ANY DEFECTS IN FITCH INFORMATION OR ANY SITE WILL BE CORRECTABLE OR CORRECTED, OR THAT FITCH INFORMATION IS COMPATIBLE WITH ANY PARTICULAR PLATFORM.

3. Limitation of Liability. Neither Fitch nor its licensors nor its or their personnel shall be liable to you for any claims, liabilities or expenses relating to Fitch Information or the access to or use of any Site for an aggregate amount in excess of the greater of (i) of any fees paid by you to access or use the Sites during the twelve (12) month period prior to your reliance on Fitch Information or any Site that is claimed to have caused damage to you, except to the extent finally judicially determined to have resulted primarily from the bad faith or intentional misconduct of Fitch or (ii) U.S. $100. In no event shall Fitch, or its employees or contractors be liable: (a) for consequential, special, indirect, incidental, punitive or exemplary loss, damage or expense, whether caused by contractual breach, negligence or otherwise; or (b) for any delay or failure to perform any obligation under these Terms of Use due to any cause beyond Fitch’s reasonable control. The provisions of this Section and Section 2 shall apply to the fullest extent of the law, whether in contract, statute, tort (such as negligent misrepresentation), or otherwise, save that nothing in these Terms of Use shall limit or exclude Fitch’s liability for negligence causing death or personal injury, or Fitch’s liability for fraud or deceit. In circumstances where all or any portion of the provisions of this Section are finally judicially determined to be unavailable, Fitch’s or its licensor’s aggregate liability for any claims, liabilities or expenses relating to Fitch Information or any Site shall not exceed an amount which is proportional to the relative fault that Fitch or its licensor’s conduct bears to all other conduct giving rise to such claim, liability or expense. This contractual limitation of liability shall be in addition to all limitations to which Fitch or its licensor is entitled under the common law, or statute or the United States Constitution as a publisher of financial information.

4. Governing Law. These Terms of Use, including (without limitation) and dispute(s) relating to the Materials whether in contract, tort, stature or otherwise shall, to the maximum extent permitted by law, be determined exclusively under the laws of the State of New York (without regard to its conflict of laws provisions), and you agree and consent to the exercise of personal jurisdiction over you by any state or federal court of law or equity located in New York, New York, U.S.A. You shall not initiate any legal proceeding relating to any such dispute in any jurisdiction other than in the state or federal courts located in New York, New York. With respect to a breach or threatened breach by you of these Terms of Use regarding the ownership, use, copying, distribution, confidentiality or nondisclosure of Fitch Information, any Site or any portion thereof, Fitch would suffer continuing and irreparable injury to its business as a direct result of such breach so you consent to entry of any injunctive relief necessary to prevent or cure such breach (including temporary and preliminary relief, and relief by order of specific performance), without posting of bond or other security or proof of irreparable harm.

5. Indemnity. You agree to indemnify and hold harmless Fitch, its licensors and suppliers, all of their affiliates, and all of their respective officers, directors, employees, shareholders, representatives, agents, successors and assigns, from and against any damages, liabilities, costs and expenses (including reasonable attorneys’ and professionals' fees and court costs) arising out of any third party claims based on or related to your use of the Sites or any breach by you of these Terms of Use.

6. Entire Agreement; Amendment; Waiver. These Terms of Use set forth the entire agreement between the parties with respect to the subject matter hereof. Except as expressly provided herein, no amendment of or modification to these Terms of Use shall be effective unless in writing and signed by a duly authorized representative of each of the parties hereto. The waiver or failure of Fitch to exercise any right in any respect provided for herein shall not be deemed a waiver of any further right hereunder. If any provisions of these Terms of Use shall be held to be invalid, illegal or unenforceable, such provisions shall be modified, or if not possible, severed, to reflect the fullest valid, legal and enforceable expression of the intent of the parties and the remainder of these Terms of Use shall not be affected thereby.

7. Joint Venture. Nothing in these Terms of Use shall be construed as constituting a partnership between or joint venture by the parties and neither shall be, or hold itself out to be, the agent of the other.

For the purpose of these Terms of Use, “Affiliate” means any entity which, directly or indirectly, Control, is Controlled by, or is under common Control with another entity. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of an entity, whether through record or beneficial ownership of voting securities, by contract, or otherwise.

FITCH LEARNING TERMS OF USE

Related Policies:

Fitch Group, Inc. Privacy Policy (“Privacy Policy”)  https://www.fitch.group/privacy-policy

Fitch Group, Inc. Cookie Policy (“Cookie Policy”) https://www.fitch.group/cookie-policy

I. Fitch Learning main websites: www.fitchlearning.com and www.fitchexamprep.com

Disclaimer & Privacy Policy

WEBSITE TERMS AND CONDITIONS OF USE AND PRIVACY POLICY

IMPORTANT NOTICE:  Certain provisions of the Website Disclaimer and Privacy Policy differ for residents of the Americas.  Please see the end of these terms for the particular provisions that apply to you if you are located in the Americas.

1. WEBSITE DISCLAIMER

Welcome to the www.fitchlearning.com,  www.fitchexamprep.com and https://www.fitch.group/privacy-policy websites, collectively, the website (the “Website”). The Website is operated by Fitch Learning Limited trading as Fitch Learning, a company registered in England with company number 03928976, and its subsidiaries and affiliates (“we”, “us”, “our” or “Fitch Learning”). Our registered office is at 30 North Colonnade, London, E14 5GN and our VAT registration number is 918160136. The following paragraphs indicate what your visit means both for us and for you.

These website terms and conditions (the “Terms”) bring together all our website policies, terms and conditions of use and other information about using the Website. The Terms also govern your use of the Website, our mobile application, and anywhere that these Terms are posted, in which case, the term “Website” herein covers the site or application on which these Terms are posted. Please read these Terms carefully. If you do not agree with these Terms, then please do not use the Website. If you do use the Website, then your conduct indicates that you agree to be bound by these Terms. We may change these Terms from time to time without notice to you in our sole discretion. If you use the Website after any such revisions take effect then you will be taken to have agreed to the revised Terms. These Terms were last updated on 25th May 2018.

2. ACCESS to WEBSITE

We cannot guarantee the continuous, uninterrupted or error-free operability of the Website. Access to the Website is permitted on a temporary basis and we reserve the right to withdraw, modify or suspend the service we provide on the Website without notice. We will not be liable to you or any third party for any unavailability, modification, suspension or withdrawal of the Website, or any features, parts or content of the Website at any time for any period.

We may change the format and content of the Website from time to time without notice to you in our sole discretion. We cannot and do not guarantee that any content of the Website will be available or free from viruses and/or other code that may have contaminating or destructive elements.

3. REGISTERING AN ACCOUNT

When registering for an account you warrant that all information you provide is true and accurate to the best of your knowledge and belief. We reserve the right to refuse to register any user. You are solely responsible for protecting your login details and password and we will not be held liable for any loss or damage that may result from your failure to do so.

4. CLOSING AN ACCOUNT

If you wish to close an account you have registered with us, then you may do so by emailing our client services team at clientservices@fitchlearning.com. We may close your account at any time if we believe you are in breach of these Terms or, acting reasonably, we believe it appropriate.  Should we close your account, we will provide you notice of such closure.

5. RESTRICTIONS ON USE

Except to the extent permitted by these Terms you are not allowed to:

  • use the Website and anything available from the Website for unlawful purposes;

  • attempt to gain unauthorised access to the Website, the server on which the Website is stored or any server, computer or database connected to our Website;

  • reproduce, duplicate, copy or re-sell any part of the Website or anything available from the Website without our consent or in contravention of these Terms;

  • store pages of the Website on a server or other storage device connected to a network or create an electronic database by systematically downloading and storing all of the pages of the Website;

  • remove or change any content of the Website or attempt to circumvent security or interfere with the proper working of the Website or the servers on which it is hosted;

  • use the Website to knowingly transmit any data, send or upload any material that contains viruses, trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware; or

  • otherwise do anything not expressly permitted by these Terms.

6. INTELLECTUAL PROPERTY

We are the owner or licensee of all intellectual property rights in the Website and in any content of the Website (including text, graphics, software, photographs and other images, videos, sound, trademarks and logos). You may only use any content of the Website for your personal, non-commercial use and may not reproduce, modify, transmit, license or publish it, in whole or in part, for any purpose without our prior written consent.

In the event of any permitted copying, redistribution or publication of Website content, no changes in or deletion of author attribution, trademark legend or copyright notice shall be made. You acknowledge that you do not acquire any ownership rights by downloading Website content.

7. Exclusion of liability

The information contained in this website is only for informational purposes.

Nothing in these Terms shall exclude or limit our liability to you:

  • for death or personal injury caused by our negligence;

  • under Part 1 of the Consumer Protection Act 1987;

  • for fraudulent misrepresentation; or

  • for any other liability that may not, under English law, be excluded or limited.

Subject to the above, in no event do we accept liability of any description (whether such liability arises as a result of breach of contract, negligence, misrepresentation or for any other reason), for any damages or losses whatsoever resulting from use of or inability to use this Website including, without limitation:

  • loss of business;

  • loss of revenue;

  • loss of profits;

  • loss of anticipated savings;

  • special loss; or

  • consequential loss.

We make no warranty that this Website (or websites which are linked to this Website) or the server that makes it available is free from computer viruses or any other malicious or impairing computer programme.

The pages in this Website may contain technical inaccuracies and typographical errors. The information in these pages may be updated from time to time and may at times be out of date. We accept no responsibility for keeping the information in these pages up to date or liability for any failure to do so.

We are a distributor (and not a publisher) of a small percentage of content on the Website and such content is supplied by third parties and users of the internet. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, or users, are those of the authors or distributors and not of us. We do not necessarily endorse nor are we responsible for the accuracy or reliability of any opinion, advice or statement made on the Website.

The information on the Website does not constitute any form of advice or recommendation by us and is not intended to be relied upon by you in making (or refraining from making) any specific educational, or other, decisions. You should take your own advice and/or make specific enquiries and independently verify any information before relying upon it.

8. FILMING AND PHOTOGRAPHY

During the course or event, some filming or photography may take place. The video footage or photographs are captured by members of the Fitch Learning team and used only by the Fitch Learning team as part of the Fitch Learning materials, and in any marketing, or related endeavours and be subject to the privacy policy.

If you partake in any filming or photographs you will be providing your consent to the release of your image, likeness and the sound of your voice. You will also be agreeing that the footage may be edited and used by Fitch Learning, in whole or in part, in all media, including, but not limited to, CD-ROM, DVD, Internet, television, radio and cable broadcast, and for all other purposes in perpetuity globally. You will not be compensated in any way for the use of your image, likeness and sound of voice and you release and hold harmless Fitch Learning from any claims or actions that arise as a result of this production.

If you do not wish to be filmed of photographed, please could you inform us in advance of the course if possible and also on the first day of the course.

9. GENERAL

If we fail to enforce, or delay in enforcing, any of our rights under these Terms, that does not result in a waiver of the rights concerned.

If any provision of these Terms or any other terms incorporated by reference is found to be unenforceable, it shall not affect the enforceability of any other provisions they contain.

No terms are enforceable under the Contracts (Rights of Third Parties) Act 1999 by a person who is not a party to the agreement between us.

You may not sub-license or assign any of the rights or obligations under these Terms.

We may sub-contract the performance of any of our obligations to you. We may assign any of our rights or obligations to you to someone else, provided that we notify you that we have done so.

10. LAW GOVERNING THE TERMS

Uses of this Website and these Terms shall be subject to the laws of England and Wales which shall exclusively govern the interpretation, application and effect of all the above permissions, exclusions, licences and conditions of use.

11. JURISDICTION

The Courts of England and Wales shall have exclusive jurisdiction over all claims and disputes arising in relations to, out of or in connection with this Website and its use and these Terms.

12. CONTACTING US

Please submit any questions you have about these Terms or any problems concerning the Website by emailing us at marketing@fitchlearning.com.

THE FOLLOWING PROVISIONS APPLY ONLY TO RESIDENTS OF THE AMERICAS AND REPLACE ANY ABOVE PROVISION WITH THE SAME HEADING.

13. EXCLUSION OF LIABILITY

The information contained in this website is only for informational purposes.

Subject to the above, in no event do we accept any liability (whether such liability arises as a result of breach of contract, negligence, misrepresentation or for any other reason), for any damages or losses   whatsoever resulting from use of or inability to use this Website including, without limitation:

  • loss of business;

  • loss of revenue;

  • loss of profits;

  • loss of anticipated savings;

  • special loss; or

  • consequential loss.

We make no warranty that this Website (or websites which are linked to this Website) or the server that makes it available is free from computer viruses or any other malicious or impairing computer program.

The pages in this Website may contain technical inaccuracies and typographical errors. The information in these pages may be updated from time to time and may at times be out of date. We accept no responsibility for keeping the information in these pages up to date or liability for any failure to do so.

We are a distributor (and not a publisher) of a small percentage of content on the Website and such content is supplied by third parties and users of the internet. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, or users, are those of the authors or distributors and not of us. We do not necessarily endorse nor are we responsible for the accuracy or reliability of any opinion, advice or statement made on the Website.

The information on the Website does not constitute any form of advice or recommendation by us and is not intended to be relied upon by you in making (or refraining from making) any specific educational, or other, decisions. You should take your own advice and/or make specific enquiries and independently verify any information before relying upon it.

14. GENERAL

If we fail to enforce, or delay in enforcing, any of our rights under these Terms, that does not result in a waiver of the rights concerned.

If any provision of these Terms or any other terms incorporated by reference is found to be unenforceable, it shall not affect the enforceability of any other provisions they contain.

You may not sub-license or assign any of the rights or obligations under these Terms.

We may sub-contract the performance of any of our obligations to you. We may assign any of our rights or obligations to you to someone else, provided that we notify you that we have done so.

15. LAW GOVERNING THE TERMS

The Website and these Terms are governed by the laws of the State of New York, USA, exclusive of its choice of law principles.

16. JURISDICTION

Any controversy, claim or dispute arising out of or relating to the Course shall be settled solely and exclusively by individual binding arbitration in New York City, New York.  Such arbitration shall be conducted in accordance with the then prevailing commercial arbitration rules of the American Arbitration Association.  Each party shall bear its own attorney’s fees and expenses.  The parties agree to abide by all decisions and awards rendered in such proceedings.  Such decisions and awards rendered by the arbitrator shall be final and conclusive.  All such controversies, claims, or disputes shall be settled in this manner in lieu of any action at law or equity.  The arbitrator shall not have the right to award punitive damages or speculative damages to either party and shall not have the power to amend these Terms.  The arbitrator shall be required to follow applicable law.  You agree that this arbitration clause shall be binding upon your family members, heirs, executors, administrators, successors, and assigns.

IF FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES NOT APPLICABLE, THEN EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THESE TERMS OR ANY OTHER MATTER INVOLVING THE PARTIES HERETO.  You and Fitch Learning (a) agree that any suit, action or legal proceeding arising out of or relating to these Terms shall be brought in the federal and state courts of record located in the State of New York, County of New York; (b) consent to the jurisdiction of each such court in any suit, action or proceeding; (c) waive any objection to the laying of venue of any such suit, action or proceeding in any of such courts; and (d) agree that these Terms are performed in the State of New York and shall be governed by the laws of New York.

You and Fitch Learning both agree that no lawsuit dispute or any other legal proceeding  connected with these Terms shall be brought or filed more than six months after the incident giving rise to the claim occurred.  PROCEEDINGS TO RESOLVE OR LITIGATE A DISPUTE IN ANY FORUM WILL BE CONDUCTED ON AN INDIVIDUAL BASIS.  Neither you nor Fitch Learning will seek to have a dispute heard as a class action, private attorney general action, or in any other proceeding in which either party acts or proposes to act in a representative capacity.  No arbitration or proceeding can be combined with another without the prior written consent of all parties to the arbitration or proceeding.  SOME JURISDICTIONS LIMIT OR PROHIBIT THE FOREGOING LIMITATIONS, AND IN SUCH JURISDICTIONS THE FOREGOING LIMITATIONS SHALL BE APPLIED TO THE MAXIMUM EXTENT PERMITTED BY LAW.

II. Certificate in Quantitative Finance http://www.cqf.com

WEBSITE TERMS AND CONDITIONS OF USE AND PRIVACY POLICY

IMPORTANT NOTICE: Certain provisions of the Website Disclaimer and Privacy Policy differ for residents of the Americas. Please see the end of these terms for the particular provisions that apply to you if you are located in the Americas.

1. WEBSITE DISCLAIMER

Welcome to the www.cqf.com website and the www.fitch.group privacy websites, collectively, the website (the “Website”). The Website is operated by Fitch Learning Limited trading as Fitch Learning, a company registered in England with company number 03928976, and its subsidiaries and affiliates (“we”, “us”, “our” or “Fitch Learning”). Our registered office is at 30 North Colonnade, London, E14 5GN and our VAT registration number is 918160136. The following paragraphs indicate what your visit means both for us and for you.

These website terms and conditions (the “Terms”) bring together all our website policies, terms and conditions of use and other information about using the Website. The Terms also govern your use of the Website, our mobile application, and anywhere that these Terms are posted, in which case, the term “Website” herein covers the site or application on which these Terms are posted. Please read these Terms carefully. If you do not agree with these Terms, then please do not use the Website. If you do use the Website, then your conduct indicates that you agree to be bound by these Terms. We may change these Terms from time to time without notice to you in our sole discretion. If you use the Website after any such revisions take effect then you will be taken to have agreed to the revised Terms. These Terms were last updated on 25th May 2018.

2. ACCESS TO WEBSITE

We cannot guarantee the continuous, uninterrupted or error-free operability of the Website. Access to the Website is permitted on a temporary basis and we reserve the right to withdraw, modify or suspend the service we provide on the Website without notice. We will not be liable to you or any third party for any unavailability, modification, suspension or withdrawal of the Website, or any features, parts or content of the Website at any time for any period.

We may change the format and content of the Website from time to time without notice to you in our sole discretion. We cannot and do not guarantee that any content of the Website will be available or free from viruses and/or other code that may have contaminating or destructive elements.

3. REGISTERING AN ACCOUNT

When registering for an account you warrant that all information you provide is true and accurate to the best of your knowledge and belief. We reserve the right to refuse to register any user. You are solely responsible for protecting your login details and password and we will not be held liable for any loss or damage that may result from your failure to do so.

4. CLOSING AN ACCOUNT

If you wish to close an account you have registered with us, then you may do so by emailing our client services team at info@cqf.com. We may close your account at any time if we believe you are in breach of these Terms or, acting reasonably, we believe it appropriate. Should we close your account, we will provide you notice of such closure.

5. RESTRICTIONS ON USE

Except to the extent permitted by these Terms you are not allowed to:

  • use the Website and anything available from the Website for unlawful purposes;

  • attempt to gain unauthorised access to the Website, the server on which the Website is stored or any server, computer or database connected to our Website;

  • reproduce, duplicate, copy or re-sell any part of the Website or anything available from the Website without our consent or in contravention of these Terms;

  • store pages of the Website on a server or other storage device connected to a network or create an electronic database by systematically downloading and storing all of the pages of the Website;

  • remove or change any content of the Website or attempt to circumvent security or interfere with the proper working of the Website or the servers on which it is hosted;

  • use the Website to knowingly transmit any data, send or upload any material that contains viruses, trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware; or

  • otherwise do anything not expressly permitted by these Terms.

6. INTELLECTUAL PROPERTY

We are the owner or licensee of all intellectual property rights in the Website and in any content of the Website (including text, graphics, software, photographs and other images, videos, sound, trademarks and logos). You may only use any content of the Website for your personal, non-commercial use and may not reproduce, modify, transmit, licence or publish it, in whole or in part, for any purpose without our prior written consent.

In the event of any permitted copying, redistribution or publication of Website content, no changes in or deletion of author attribution, trademark legend or copyright notice shall be made. You acknowledge that you do not acquire any ownership rights by downloading Website content.

7. EXCLUSION OF LIABILITY

The information contained in this website is only for informational purposes.

Nothing in these Terms shall exclude or limit our liability to you:

  • for death or personal injury caused by our negligence;

  • under Part 1 of the Consumer Protection Act 1987;

  • for fraudulent misrepresentation; or

  • for any other liability that may not, under English law, be excluded or limited.

Subject to the above, in no event do we accept liability of any description (whether such liability arises as a result of breach of contract, negligence, misrepresentation or for any other reason), for any damages or losses whatsoever resulting from use of or inability to use this Website including, without limitation:

  • loss of business;

  • loss of revenue;

  • loss of profits;

  • loss of anticipated savings;

  • special loss; or

  • consequential loss.

We make no warranty that this Website (or websites which are linked to this Website) or the server that makes it available is free from computer viruses or any other malicious or impairing computer programme.

The pages in this Website may contain technical inaccuracies and typographical errors. The information in these pages may be updated from time to time and may at times be out of date. We accept no responsibility for keeping the information in these pages up to date or liability for any failure to do so.

We are a distributor (and not a publisher) of a small percentage of content on the Website and such content is supplied by third parties and users of the internet. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, or users, are those of the authors or distributors and not of us. We do not necessarily endorse nor are we responsible for the accuracy or reliability of any opinion, advice or statement made on the Website.

The information on the Website does not constitute any form of advice or recommendation by us and is not intended to be relied upon by you in making (or refraining from making) any specific educational, or other, decisions. You should take your own advice and/or make specific enquiries and independently verify any information before relying upon it.

8. FILMING AND PHOTOGRAPHY

During the course or event, some filming or photography may take place. The video footage or photographs are captured by members of the Fitch Learning team and used only by the Fitch Learning team as part of the Fitch Learning materials, and in any marketing, or related endeavours and be subject to the privacy policy.

If you partake in any filming or photographs you will be providing your consent to the release of your image, likeness and the sound of your voice. You will also be agreeing that the footage may be edited and used by Fitch Learning, in whole or in part, in all media, including, but not limited to, CD-ROM, DVD, Internet, television, radio and cable broadcast, and for all other purposes in perpetuity globally. You will not be compensated in any way for the use of your image, likeness and sound of voice and you release and hold harmless Fitch Learning from any claims or actions that arise as a result of this production.

If you do not wish to be filmed of photographed, please could you inform us in advance of the course if possible and also on the first day of the course.

9. GENERAL

If we fail to enforce, or delay in enforcing, any of our rights under these Terms, that does not result in a waiver of the rights concerned.

If any provision of these Terms or any other terms incorporated by reference is found to be unenforceable, it shall not affect the enforceability of any other provisions they contain.

No terms are enforceable under the Contracts (Rights of Third Parties) Act 1999 by a person who is not a party to the agreement between us.

You may not sub-license or assign any of the rights or obligations under these Terms.

We may sub-contract the performance of any of our obligations to you. We may assign any of our rights or obligations to you to someone else, provided that we notify you that we have done so.

10. LAW GOVERNING THE TERMS

Uses of this Website and these Terms shall be subject to the laws of England and Wales which shall exclusively govern the interpretation, application and effect of all the above permissions, exclusions, licenses and conditions of use.

11. JURISDICTION

The Courts of England and Wales shall have exclusive jurisdiction over all claims and disputes arising in relations to, out of or in connection with this Website and its use and these Terms.

12. CONTACTING US

Please submit any questions you have about these Terms or any problems concerning the Website by emailing us at info@cqf.com.

THE FOLLOWING PROVISIONS APPLY ONLY TO RESIDENTS OF THE AMERICAS AND REPLACE ANY ABOVE PROVISION WITH THE SAME HEADING.

13. EXCLUSION OF LIABILITY

The information contained in this website is only for informational purposes.

Nothing in these Terms shall exclude or limit our liability to you for any liability that may not, under the laws of the State of New York, be excluded or limited.

Subject to the above, in no event do we accept any liability (whether such liability arises as a result of breach of contract, negligence, misrepresentation or for any other reason), for any damages or losses whatsoever resulting from use of or inability to use this Website including, without limitation:

  • loss of business;

  • loss of revenue;

  • loss of profits;

  • loss of anticipated savings;

  • special loss; or

  • consequential loss.

We make no warranty that this Website (or websites which are linked to this Website) or the server that makes it available is free from computer viruses or any other malicious or impairing computer program.

The pages in this Website may contain technical inaccuracies and typographical errors. The information in these pages may be updated from time to time and may at times be out of date. We accept no responsibility for keeping the information in these pages up to date or liability for any failure to do so.

We are a distributor (and not a publisher) of a small percentage of content on the Website and such content is supplied by third parties and users of the internet. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, or users, are those of the authors or distributors and not of us. We do not necessarily endorse nor are we responsible for the accuracy or reliability of any opinion, advice or statement made on the Website.

The information on the Website does not constitute any form of advice or recommendation by us and is not intended to be relied upon by you in making (or refraining from making) any specific educational, or other, decisions. You should take your own advice and/or make specific enquiries and independently verify any information before relying upon it.

14. GENERAL

If we fail to enforce, or delay in enforcing, any of our rights under these Terms, that does not result in a waiver of the rights concerned.

If any provision of these Terms or any other terms incorporated by reference is found to be unenforceable, it shall not affect the enforceability of any other provisions they contain.

You may not sub-license or assign any of the rights or obligations under these Terms.

We may sub-contract the performance of any of our obligations to you. We may assign any of our rights or obligations to you to someone else, provided that we notify you that we have done so.

15. LAW GOVERNING THE TERMS

The Website and these Terms are governed by the laws of the State of New York, USA, exclusive of its choice of law principles.

16. JURISDICTION

Any controversy, claim or dispute arising out of or relating to the Course shall be settled solely and exclusively by individual binding arbitration in New York City, New York. Such arbitration shall be conducted in accordance with the then prevailing commercial arbitration rules of the American Arbitration Association. Each party shall bear its own attorneys’ fees and expenses. The parties agree to abide by all decisions and awards rendered in such proceedings. Such decisions and awards rendered by the arbitrator shall be final and conclusive. All such controversies, claims, or disputes shall be settled in this manner in lieu of any action at law or equity. The arbitrator shall not have the right to award punitive damages or speculative damages to either party and shall not have the power to amend these Terms. The arbitrator shall be required to follow applicable law. You agree that this arbitration clause shall be binding upon your family members, heirs, executors, administrators, successors, and assigns.

IF FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES NOT APPLICABLE, THEN EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THESE TERMS OR ANY OTHER MATTER INVOLVING THE PARTIES HERETO. You and Fitch Learning (a) agree that any suit, action or legal proceeding arising out of or relating to these Terms shall be brought in the federal and state courts of record located in the State of New York, County of New York; (b) consent to the jurisdiction of each such court in any suit, action or proceeding; (c) waive any objection to the laying of venue of any such suit, action or proceeding in any of such courts; and (d) agree that these Terms are performed in the State of New York and shall be governed by the laws of New York.

You and Fitch Learning both agree that no lawsuit dispute or any other legal proceeding connected with these Terms shall be brought or filed more than six months after the incident giving rise to the claim occurred. PROCEEDINGS TO RESOLVE OR LITIGATE A DISPUTE IN ANY FORUM WILL BE CONDUCTED ON AN INDIVIDUAL BASIS. Neither you nor Fitch will seek to have a dispute heard as a class action, private attorney general action, or in any other proceeding in which either party acts or proposes to act in a representative capacity. No arbitration or proceeding can be combined with another without the prior written consent of all parties to the arbitration or proceeding. SOME JURISDICTIONS LIMIT OR PROHIBIT THE FOREGOING LIMITATIONS, AND IN SUCH JURISDICTIONS THE FOREGOING LIMITATIONS SHALL BE APPLIED TO THE MAXIMUM EXTENT PERMITTED BY LAW.

III. Cognition/CFA exam prep: https://www.fitchexamprep.com

Disclaimer & Privacy Policy & Terms of Use

This website contains only links to the main website www.fitchlearning.com and www.fitch.group/privacy-policy therefore the terms are the same as those listed in this document at I.1.

IV. CQF Institute: https://www.cqfinstitute.org

WEBSITE TERMS & CONDITIONS OF USE AND PRIVACY POLICY

IMPORTANT NOTICE: Certain provisions of the Website Disclaimer and Privacy Policy differ for residents of the Americas. Please see the end of these terms for the particular provisions that apply to you if you are located in the Americas.

1. WEBSITE DISCLAIMER

Welcome to the www.cqfinstitute.org and the https://www.fitch.group privacy websites, collectively, the website (the “Website”). The Website is operated by Fitch Learning Limited trading as Fitch Learning, a company registered in England with company number 03928976, and its subsidiaries and affiliates (“we,”us“, or”our"). Our registered office is at 30 North Colonnade, London, E14 5GN and our VAT registration number is 918160136. The following paragraphs indicate what your visit means both for us and for you.

These website terms and conditions (the “Terms”) bring together all our website policies, terms and conditions of use and other information about using the Website. The Terms also govern your use of the Website, our mobile application, and anywhere that these Terms are posted, in which case, the term “Website” herein covers the site or application on which these Terms are posted. Please read these Terms carefully. If you do not agree with these Terms, then please do not use the Website. If you do use the Website, then your conduct indicates that you agree to be bound by these Terms. We may change these Terms from time to time without notice to you in our sole discretion. If you use the Website after any such revisions take effect then you will be taken to have agreed to the revised Terms. These Terms were last updated on 25th May 2018.

2. ACCESS TO WEBSITE

We cannot guarantee the continuous, uninterrupted or error-free operability of the Website. Access to the Website is permitted on a temporary basis and we reserve the right to withdraw, modify or suspend the service we provide on the Website without notice. We will not be liable to you or any third party for any unavailability, modification, suspension or withdrawal of the Website, or any features, parts or content of the Website at any time for any period.

We may change the format and content of the Website from time to time without notice to you in our sole discretion. We cannot and do not guarantee that any content of the Website will be available or free from viruses and/or other code that may have contaminating or destructive elements.

3. REGISTERING AN ACCOUNT

When registering for an account you warrant that all information you provide is true and accurate to the best of your knowledge and belief. We reserve the right to refuse to register any user. You are solely responsible for protecting your login details and password and we will not be held liable for any loss or damage that may result from your failure to do so.

4. CLOSING AN ACCOUNT

If you wish to close an account you have registered with us, then you may do so by emailing our client services team at cqfinstitute@fitchlearning.com We may close your account at any time if we believe you are in breach of these Terms or, acting reasonably, we believe it appropriate. Should we close your account, we will provide you notice of such closure.

5. RESTRICTIONS ON USE

Except to the extent permitted by these Terms you are not allowed to:

  • use the Website and anything available from the Website for unlawful purposes;

  • attempt to gain unauthorised access to the Website, the server on which the Website is stored or any server, computer or database connected to our Website;

  • reproduce, duplicate, copy or re-sell any part of the Website or anything available from the Website without our consent or in contravention of these Terms;

  • store pages of the Website on a server or other storage device connected to a network or create an electronic database by systematically downloading and storing all of the pages of the Website;

  • remove or change any content of the Website or attempt to circumvent security or interfere with the proper working of the Website or the servers on which it is hosted;

  • use the Website to knowingly transmit any data, send or upload any material that contains viruses, trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware; or

  • otherwise do anything not expressly permitted by these Terms.

6. INTELLECTUAL PROPERTY

We are the owner or licensee of all intellectual property rights in the Website and in any content of the Website (including text, graphics, software, photographs and other images, videos, sound, trademarks and logos). You may only use any content of the Website for your personal, non-commercial use and may not reproduce, modify, transmit, licence or publish it, in whole or in part, for any purpose without our prior written consent.

In the event of any permitted copying, redistribution or publication of Website content, no changes in or deletion of author attribution, trademark legend or copyright notice shall be made. You acknowledge that you do not acquire any ownership rights by downloading Website content.

7. EXCLUSION OF LIABILITY

The information contained in this website is only for informational purposes.

Nothing in these Terms shall exclude or limit our liability to you:

  • for death or personal injury caused by our negligence;

  • under Part 1 of the Consumer Protection Act 1987;

  • for fraudulent misrepresentation; or

  • for any other liability that may not, under English law, be excluded or limited.

Subject to the above, in no event do we accept liability of any description (whether such liability arises as a result of breach of contract, negligence, misrepresentation or for any other reason), for any damages or losses whatsoever resulting from use of or inability to use this Website including, without limitation:

  • loss of business;

  • loss of revenue;

  • loss of profits;

  • loss of anticipated savings;

  • special loss; or

  • consequential loss.

We make no warranty that this Website (or websites which are linked to this Website) or the server that makes it available is free from computer viruses or any other malicious or impairing computer programme.

The pages in this Website may contain technical inaccuracies and typographical errors. The information in these pages may be updated from time to time and may at times be out of date. We accept no responsibility for keeping the information in these pages up to date or liability for any failure to do so.

We are a distributor (and not a publisher) of a small percentage of content on the Website and such content is supplied by third parties and users of the internet. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, or users, are those of the authors or distributors and not of us. We do not necessarily endorse nor are we responsible for the accuracy or reliability of any opinion, advice or statement made on the Website.

The information on the Website does not constitute any form of advice or recommendation by us and is not intended to be relied upon by you in making (or refraining from making) any specific educational, or other, decisions. You should take your own advice and/or make specific enquiries and independently verify any information before relying upon it.

8. FILMING AND PHOTOGRAPHY

During the course or event, some filming or photography may take place. The video footage or photographs are captured by members of the Fitch Learning team and used only by the Fitch Learning team as part of the Fitch Learning materials, and in any marketing, or related endeavours and be subject to the privacy policy.

If you partake in any filming or photographs you will be providing your consent to the release of your image, likeness and the sound of your voice. You will also be agreeing that the footage may be edited and used by Fitch Learning, in whole or in part, in all media, including, but not limited to, CD-ROM, DVD, Internet, television, radio and cable broadcast, and for all other purposes in perpetuity globally. You will not be compensated in any way for the use of your image, likeness and sound of voice and you release and hold harmless Fitch Learning from any claims or actions that arise as a result of this production.

If you do not wish to be filmed of photographed, please could you inform us in advance of the course if possible and also on the first day of the course.

9. GENERAL

If we fail to enforce, or delay in enforcing, any of our rights under these Terms, that does not result in a waiver of the rights concerned.

If any provision of these Terms or any other terms incorporated by reference is found to be unenforceable, it shall not affect the enforceability of any other provisions they contain.

No terms are enforceable under the Contracts (Rights of Third Parties) Act 1999 by a person who is not a party to the agreement between us.

You may not sub-license or assign any of the rights or obligations under these Terms.

We may sub-contract the performance of any of our obligations to you. We may assign any of our rights or obligations to you to someone else, provided that we notify you that we have done so.

10. LAW GOVERNING THE TERMS

Uses of this Website and these Terms shall be subject to the laws of England and Wales which shall exclusively govern the interpretation, application and effect of all the above permissions, exclusions, licences and conditions of use.

11. Jurisdiction

The Courts of England and Wales shall have exclusive jurisdiction over all claims and disputes arising in relations to, out of or in connection with this Website and its use and these Terms.

12. Contacting us

Please submit any questions you have about these Terms or any problems concerning the Website by emailing us at cqfinstitute@fitchlearning.com

THE FOLLOWING PROVISIONS APPLY ONLY TO RESIDENTS OF THE AMERICAS AND REPLACE ANY ABOVE PROVISION WITH THE SAME HEADING.

13. Exclusion of liability

The information contained in this website is only for informational purposes.

Nothing in these Terms shall exclude or limit our liability to you for any liability that may not, under the laws of the State of New York, be excluded or limited.

Subject to the above, in no event do we accept any liability (whether such liability arises as a result of breach of contract, negligence, misrepresentation or for any other reason), for any damages or losses whatsoever resulting from use of or inability to use this Website including, without limitation:

  • loss of business;

  • loss of revenue;

  • loss of profits;

  • loss of anticipated savings;

  • special loss; or

  • consequential loss.

We make no warranty that this Website (or websites which are linked to this Website) or the server that makes it available is free from computer viruses or any other malicious or impairing computer program.

The pages in this Website may contain technical inaccuracies and typographical errors. The information in these pages may be updated from time to time and may at times be out of date. We accept no responsibility for keeping the information in these pages up to date or liability for any failure to do so.

We are a distributor (and not a publisher) of a small percentage of content on the Website and such content is supplied by third parties and users of the internet. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, or users, are those of the authors or distributors and not of us. We do not necessarily endorse nor are we responsible for the accuracy or reliability of any opinion, advice or statement made on the Website.

The information on the Website does not constitute any form of advice or recommendation by us and is not intended to be relied upon by you in making (or refraining from making) any specific educational, or other, decisions. You should take your own advice and/or make specific enquiries and independently verify any information before relying upon it.

14. GENERAL

If we fail to enforce, or delay in enforcing, any of our rights under these Terms, that does not result in a waiver of the rights concerned.

If any provision of these Terms or any other terms incorporated by reference is found to be unenforceable, it shall not affect the enforceability of any other provisions they contain.

You may not sub-license or assign any of the rights or obligations under these Terms.

We may sub-contract the performance of any of our obligations to you. We may assign any of our rights or obligations to you to someone else, provided that we notify you that we have done so.

15. LAW GOVERNING THE TERMS

Uses of this Website and these Terms shall be subject to the laws of the State of New York which shall exclusively govern the interpretation, application and effect of all the above permissions, exclusions, licenses and conditions of use.

16. JURISDICTION

The state or federal courts located in the State of New York, County of New York shall have exclusive jurisdiction over all claims and disputes arising in relations to, out of or in connection with this Website and its use and these Terms.

V. Global Institute of Credit Professionals: https://www.gicp.org

WEBSITE TERMS & CONDITIONS OF USE AND PRIVACY POLICY

IMPORTANT NOTICE: Certain provisions of the Website Disclaimer and Privacy Policy differ for residents of the Americas. Please see the end of these terms for the particular provisions that apply to you if you are located in the Americas.

1. WEBSITE DISCLAIMER

Welcome to the www.gicp.org and the https://www.fitch.group  websites, collectively, the website (the “Website”). The Website is operated by Fitch Learning Limited trading as Fitch Learning, a company registered in England with company number 03928976, and its subsidiaries and affiliates (“we”, “us”, “our” or “Fitch Learning”). Our registered office is at 30 North Colonnade, London, E14 5GN and our VAT registration number is 918160136. The following paragraphs indicate what your visit means both for us and for you.

These website terms and conditions (the “Terms”) bring together all our website policies, terms and conditions of use and other information about using the Website. The Terms also govern your use of the Website, our mobile application, and anywhere that these Terms are posted, in which case, the term “Website” herein covers the site or application on which these Terms are posted. Please read these Terms carefully. If you do not agree with these Terms, then please do not use the Website. If you do use the Website, then your conduct indicates that you agree to be bound by these Terms. We may change these Terms from time to time without notice to you in our sole discretion. If you use the Website after any such revisions take effect then you will be taken to have agreed to the revised Terms. These Terms were last updated on 3 January 2023.

2. ACCESS TO WEBSITE

We cannot guarantee the continuous, uninterrupted or error-free operability of the Website. Access to the Website is permitted on a temporary basis and we reserve the right to withdraw, modify or suspend the service we provide on the Website without notice. We will not be liable to you or any third party for any unavailability, modification, suspension or withdrawal of the Website, or any features, parts or content of the Website at any time for any period.

We may change the format and content of the Website from time to time without notice to you in our sole discretion. We cannot and do not guarantee that any content of the Website will be available or free from viruses and/or other code that may have contaminating or destructive elements.

3. RESTRICTIONS ON USE

Except to the extent permitted by these Terms you are not allowed to:

  • use the Website and anything available from the Website for unlawful purposes;

  • attempt to gain unauthorised access to the Website, the server on which the Website is stored or any server, computer or database connected to our Website;

  • reproduce, duplicate, copy or re-sell any part of the Website or anything available from the Website without our consent or in contravention of these Terms;

  • store pages of the Website on a server or other storage device connected to a network or create an electronic database by systematically downloading and storing the pages of the Website;

  • remove or change any content of the Website or attempt to circumvent security or interfere with the proper working of the Website or the servers on which it is hosted;

  • use the Website to knowingly transmit any data, send or upload any material that contains viruses, trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware; or

  • otherwise do anything not expressly permitted by these Terms.

4. INTELLECTUAL PROPERTY

We are the owner or licensee of all intellectual property rights in the Website and in any content of the Website (including text, graphics, software, photographs and other images, videos, sound, trademarks and logos). You may only use any content of the Website for your personal, non-commercial use and may not reproduce, modify, transmit, licence or publish it, in whole or in part, for any purpose without our prior written consent.

In the event of any permitted copying, redistribution or publication of Website content, no changes in or deletion of author attribution, trademark legend or copyright notice shall be made. You acknowledge that you do not acquire any ownership rights by downloading Website content.

5. EXCLUSION OF LIABILITY

The information contained in this website is only for informational purposes.

Nothing in these Terms shall exclude or limit our liability to you:

  • for death or personal injury caused by our negligence;

  • under Part 1 of the Consumer Protection Act 1987;

  • for fraudulent misrepresentation; or

  • for any other liability that may not, under English law, be excluded or limited.

Subject to the above, in no event do we accept liability of any description (whether such liability arises as a result of breach of contract, negligence, misrepresentation or for any other reason), for any damages or losses whatsoever resulting from use of or inability to use this Website including, without limitation:

  • loss of business;

  • loss of revenue;

  • loss of profits;

  • loss of anticipated savings;

  • special loss; or

  • consequential loss.

We make no warranty that this Website (or websites which are linked to this Website) or the server that makes it available is free from computer viruses or any other malicious or impairing computer programme.

The pages in this Website may contain technical inaccuracies and typographical errors. The information in these pages may be updated from time to time and may at times be out of date. We accept no responsibility for keeping the information in these pages up to date or liability for any failure to do so.

We are a distributor (and not a publisher) of a small percentage of content on the Website and such content is supplied by third parties and users of the internet. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, or users, are those of the authors or distributors and not of us. We do not necessarily endorse nor are we responsible for the accuracy or reliability of any opinion, advice or statement made on the Website.

The information on the Website does not constitute any form of advice or recommendation by us and is not intended to be relied upon by you in making (or refraining from making) any specific educational, or other, decisions. You should take your own advice and/or make specific enquiries and independently verify any information before relying upon it.

6. FILMING AND PHOTOGRAPHY

During a Fitch Learning course or event, some filming or photography may take place. The video footage or photographs are captured by members of the Fitch Learning team and used only by the Fitch Learning team as part of the Fitch Learning materials, and in any marketing, or related endeavours.

If you partake in any filming or photographs you will be providing your consent to the release of your image, likeness and the sound of your voice. You will also be agreeing that the footage may be edited and used by Fitch Learning, in whole or in part, in all media, including, but not limited to, Internet, television, radio and cable broadcast, and for all other purposes in perpetuity globally. You will not be compensated in any way for the use of your image, likeness and sound of voice and you release and hold harmless Fitch Learning from any claims or actions that arise as a result of this production.

If you do not wish to be filmed or photographed at a course, you will inform us in advance of the course and also on the first day of the course.

7. GENERAL

If we fail to enforce, or delay in enforcing, any of our rights under these Terms, that does not result in a waiver of the rights concerned.

If any provision of these Terms or any other terms incorporated by reference is found to be unenforceable, it shall not affect the enforceability of any other provisions they contain.

No terms are enforceable under the Contracts (Rights of Third Parties) Act 1999 by a person who is not a party to the agreement between us.

You may not sub-license or assign any of the rights or obligations under these Terms.

We may sub-contract the performance of any of our obligations to you. We may assign any of our rights or obligations to you to someone else, provided that we notify you that we have done so.

8. LAW GOVERNING THE TERMS

Uses of this Website and these Terms shall be subject to the laws of England and Wales which shall exclusively govern the interpretation, application and effect of all the above permissions, exclusions, licences and conditions of use.

9. JURISDICTION

The Courts of England and Wales shall have exclusive jurisdiction over all claims and disputes arising in relations to, out of or in connection with this Website and its use and these Terms.

10. CONTACTING US

Please submit any questions you have about these Terms or any problems concerning the Website by emailing us at institute@gicp.org.

THE FOLLOWING PROVISIONS APPLY ONLY TO RESIDENTS OF THE AMERICAS AND REPLACE ANY ABOVE PROVISION WITH THE SAME HEADING.

11. EXCLUSION OF LIABILITY

The information contained in this website is only for informational purposes.

Nothing in these Terms shall exclude or limit our liability to you for any liability that may not, under the laws of the State of New York, be excluded or limited.

Subject to the above, in no event do we accept any liability (whether such liability arises as a result of breach of contract, negligence, misrepresentation or for any other reason), for any damages or losses whatsoever resulting from use of or inability to use this Website including, without limitation:

  • loss of business;

  • loss of revenue;

  • loss of profits;

  • loss of anticipated savings;

  • special loss; or

  • consequential loss.

We make no warranty that this Website (or websites which are linked to this Website) or the server that makes it available is free from computer viruses or any other malicious or impairing computer program.

The pages in this Website may contain technical inaccuracies and typographical errors. The information in these pages may be updated from time to time and may at times be out of date. We accept no responsibility for keeping the information in these pages up to date or liability for any failure to do so.

We are a distributor (and not a publisher) of a small percentage of content on the Website and such content is supplied by third parties and users of the internet. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by third parties, including information providers, or users, are those of the authors or distributors and not of us. We do not necessarily endorse nor are we responsible for the accuracy or reliability of any opinion, advice or statement made on the Website.

The information on the Website does not constitute any form of advice or recommendation by us and is not intended to be relied upon by you in making (or refraining from making) any specific educational, or other, decisions. You should take your own advice and/or make specific enquiries and independently verify any information before relying upon it.

12. GENERAL

If we fail to enforce, or delay in enforcing, any of our rights under these Terms, that does not result in a waiver of the rights concerned.

If any provision of these Terms or any other terms incorporated by reference is found to be unenforceable, it shall not affect the enforceability of any other provisions they contain.

You may not sub-license or assign any of the rights or obligations under these Terms.

We may sub-contract the performance of any of our obligations to you. We may assign any of our rights or obligations to you to someone else, provided that we notify you that we have done so.

13. LAW GOVERNING THE TERMS

Uses of the Website and these Terms shall be subject to the laws of the State of New York, USA, exclusive of its choice of law principles which shall exclusively govern the interpretation, application and effect of all the above permissions, exclusions, licenses and conditions of use.

14. JURISDICTION

The state or federal courts located in the State of New York, County of New York shall have exclusive jurisdiction over all claims and disputes arising in relations to, out of or in connection with this Website and its use and these Terms.